Zain rolls out a pilot project of its rebranded mobile money transfer service Zap, which will be operational in Africa and Middle East. The pilot will be rolled out in Madagascar, Kenya, Tanzania and Uganda.
The new money transfer service will allow the subscribers to withdraw and deposit money through Zain outlets and transact international money transfers. Zap will also offer added services to clients in collaboration with local commercial banks.
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Source: Wireless Federation.
Chris Gabriel, Africa CEO of the company said, “Zain is addressing issues with the regulators and central banks in the region; we hope the process will result in benchmark standards for the sector since the mobile money transfer service is already being offered in some countries,”. Managing director Rene Meza additionally said “It will be a comprehensive mobile banking solution that will go beyond the money transfer. Customers will be able to interact with their banks and access their personal accounts,”.
“We expect to launch Zap early next year, the infrastructure is in place and is functional and operational and is already being used by 80 per cent of our customers through the 2,000 outlets in the country,” said Mr Meza.